Connectbase, dubbed the 'Industry Cloud for Connectivity', has announced the acquisition of telecom-centric configure, price and quote platform, MasterStream ERP.
After already adding 500,000 new quotes per month to its portfolio through this acquisition, Connectbase states it has solidified its position as a leading global quoting and transaction platform in the connectivity market.
The latest move comes as a part of Connectbase's strategic expansion plan designed to increase the value for its ecosystem members and the industry by improving demand power, supply and channel offerings.
The merger of MasterStream and Connectbase, coupled with the earlier acquisition of LastMileXchange this year, has now resulted in creating the largest source of digital demand in the connectivity industry, the company states.
"We are excited to welcome the MasterStream team and customer base into the Connectbase ecosystem, and further unite the supply and demand of connectivity for suppliers, buyers and the channel partners driving growth in the market," shared Ben Edmond, Founder and CEO of Connectbase.
Asserting the significance of the acquisition, he mentioned, "Combining MasterStream, Connectbase and LastMileXchange. [...] We've significantly increased the demand power and volume behind our already powerful Marketplace."
The company's strategy has not only focused on acquisitions but also expanding its offerings to encourage digital transactions. The acquisition of MasterStream will hasten the digital adoption within the channel world.
After the merger, the company now plans to expand and boost its channel offerings to further ease the process of connectivity buying and selling for service providers, trusted advisors, and the broader digital infrastructure as well as services ecosystem.
"This acquisition perfectly aligns with our strategic growth plan; Connectbase is growing supply and demand within our ecosystem, geographic reach, product set and go-to-market channels," added Edmond.
He further commented, "This acquisition truly enhances our ability to serve our customers and partners better. Every move we make is to increase our value to ecosystem members and the industry."
The latest announcement follows other major developments from Connectbase, including the acquisition of London-based LMX in the spring and securing an additional $16 million in line-of-credit funding from Silicon Valley Bank over the summer.
The new, combined Connectbase now boasts the largest global ecosystem of over 300 service provider APIs, securely linking buyers and sellers across six continents with more than 2.7 billion unique serviceable locations, according to the company. The proprietary 'Location Truth' service in The Connected World platform repositions Connectbase strongly as we enter the new year.